Veno Launching On VVS Launchpad (IGO) on VVS Finance Launchpad! In this IGO, they incorporate a Committed $VVS Refund logic, which means your committed $VVS tokens in this IGO will be refunded to you after 30 days! You will be able to reclaim your committed $VVS tokens on our IGO page.

IGO Details

IGO Start Date: Tuesday, Jan 17th, 2023 9am UTC (5pm SGT)

Duration: 24 hours

LP Seeding: Wednesday, Jan 18th, 2023 9am UTC (5pm SGT)

Amount to Be Raised: 100,000 USD

Fully Diluted Valuation (or equivalent): 80,000,000 USD

Units offering: 2,500,000 $VNO at $0.04 USD per token

IGO Split: 100% to Basic (no Unlimited Offering)

IGO Method: Basic Offering: ‘Gem Fair’ . The method will be conducted using the Overflow Method.

Gem Fair eligibility snapshot: Taken randomly between Jan 15th — Jan 16th 2023

Vesting: 50% Immediate, 50% Monthly Vesting at 10%

Investment token: $VVS

Max commitment: $100 USD worth of VVS (fully returned after 30 days of IGO end)

Max overflow: 2x

Committed $VVS refund: Your committed $VVS tokens in this IGO will be refunded to you after the 30 days. You will be able to reclaim your committed $VVS tokens on our IGO page.

Basic Offering: ‘Gem Fair’ (USD 100,000 to raise)

In the Gem Fair, each person can contribute a MAXIMUM of $100 USD equivalent of VVS tokens.

To enter the Gem Fair, each user has to stake in xVVS Vaults, with varying amounts based on the different vault lockup period. Note: the staked amount cannot be split across multiple Vaults.

In essence, with a longer lockup period in the Vaults, the amount of xVVS staked required to enter the Gem Fair will be lowered.

The Gem Fair eligibility snapshot will be taken randomly between Jan 15th — Jan 16th. Make sure to complete the staking requirement by Jan 14th 11:59 PM UTC — 2023

The number of tokens available in this format will account for 100% of the total amount of token offering.

In order to ensure IGO participants have meaningful IGO allocation in the event of oversubscription, the Max Overflow mechanism will be implemented in the Basic Offering. The Basic Offering pool will stop accepting further deposit commitment once the overflow reaches 2x / 200% of the amount to raise.

Do note that the final allocation you receive will still be subject to the total amount raised in this method. However, you will not be battling any whales.

What Is the “Overflow” Method?

In essence, the more a user commits, the more allocation they may receive based on their percent commitment over the total committed amount. Any unspent amount is returned to users. The Overflow Method is illustrated by the following examples, when a user participates in the IGO via a Gem Fair.

Participating In the IGO

Eligibility:

1. Stake xVVS in Vaults for before the Veno IGO. (Required for the basic offering ‘Gem Fair’)
2. Hold at least 2500 LCRO-CRO-LP on Ferro (in wallet or staked in Ferro). Check this guide to get LCRO-CRO-LP. (~ USD 157.5 at the time of release)
3. Get VVS tokens which will be needed to purchase the $VNO token.

Before the IGO:

1. Get some VVS tokens and stake them for xVVS.
2. Ensure you have xVVS staked in a Vault prior to the IGO. xVVS has to be staked before the snapshot is taken in order to be eligible, refer to the above snapshot time and amount required (Required for the basic method ‘Gem Fair’).
3. Arm yourself with VVS tokens, this will be your currency to purchase $VNO.

During the IGO:

1. Commit VVS tokens: commit your purchase intention by staking VVS tokens in the IGO smart contract.

After the IGO:

1. 50% of your $VNO tokens will be immediately claimable once IGO is completed.
2. The remaining 50% of tokens will vest monthly over 5 months (10% per month)
3. Your allocation of $VNO tokens is calculated based on the overflow.
4. Any unused VVS tokens will be returned to you automatically upon claiming your $VNO tokens.
5. Your committed $VVS tokens in this IGO will be refunded to you after the 30 days. You will be able to reclaim your committed $VVS tokens on our IGO page.

About VENO

The Veno a liquid staking protocol built on Cronos. Veno’s goal is to be a one-stop solution for all $CRO staking, and enable a liquid form of $CRO that is highly secure, with lower staking commission, and with deep integration across the Cronos ecosystem. Users will be able to stake their $CRO directly with veno protocol and receive liquid $CRO token ($LCRO).

Website | Twitter |

Long-term goal is to provide a price-competitive protocol, one which maximizes reliability and efficiency, via

• Cost savings: Veno leverage their own node infrastructure and/or the infrastructure of our partners.
• Reliability: Veno has enterprise-grade node set-up and deep expertise in running node infrastructure.
• Security: Veno has an insurance module that will help secure user funds in the unlikely event of a slashing penalty.

Aims to maximise the adoption and utility of the $LCRO token across the Cronos ecosystem.

• Veno wants to maximise the liquidity of $LCRO in the Cronos ecosystem and beyond, attracting the largest amount of capital, and attaining the lowest spread, with commitments to high reliability and low-fees.
• $LCRO is an auto-compounding yield-bearing token to maximise composability.
• Veno aims to further maximise user liquidity by providing a tradeable NFT after user unstakes their $CRO.

Tokenomics

$VNO is Veno’s native protocol token which can be utilized across the Cronos ecosystem. $VNO has several use cases, including real yield rewards and boosted farming,

The total supply of $VNO will be 2,000,000,000 (2 billion). Below is the allocation breakdown of $VNO:

About VVS Finance

VVS Finance a blockchain-based decentralized finance (DeFi) platform. The platform aims to provide users a gateway into the DeFi space and allow them take control of their finances

Website | Twitter |

Source

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VVS Finance launched VVSgotchi on Cronos, which offers a variety of quests and competitions to its users. Users can embark on expeditions with teams of up to five Miner Moles.

About VVSgotchi

The game adds tangible utility to the Miner Mole NFT collection by presenting opportunities for users to earn experience points. These points can translate to a higher NFT boost multiplier on staked VVS Crystal Farms. A leaderboard page will rank Miner Moles in relation to the amount of EXP earned. Will be broken down into five rarities – Common, Special, Rare, Epic and Legendary. The higher the individual Mole’s ranking is on the leaderboard, the higher its NFT boost multiplier.

VVSgotchi will  give users the opportunity to win Miner Mole NFTs. These benefits are in addition to VVS Finance’s Miner Mole NFT online perks and in-person event invitations. To take part, players must have purchased at least one VVS Miner Mole from the Minted Marketplace.

VVS Finance, as a simple, user-friendly, decentralized exchange, plays an important role in educating users about the power of Defi. VVSGotchi hopes to educate, attract, and onboard users to the crypto space. By implementing gamification, with users expected to become more involved in dApps as the crypto industry matures. VVSGotchi will build on the progress made by the VVS Finance Miner Mole NFT project in attracting more users to the Cronos ecosystem.

Management Quote

Ken Timsit, Head of Cronos Labs said:

“This recent addition to the #CROfam further enhances the efforts of Cronos chain in onboarding the next billion users to Web3 and DeFi by providing a diversified and exciting range of dApps. The launch of VVSgotchi will bolster the GameFi vertical, which has been a top priority vertical for ecosystem development programs such as the $100M-backed Cronos Accelerator Program. I am proud to see that we continue to see exciting new product launches on Cronos chain, even in these market conditions.”

VVSgotchi will also hold a contest to commemorate its launch. VVSgotchi will monitor its leaderboards for three weeks. From December 29 to January 19, 2023, and the top-ranked Mole in each rarity category will win an additional Miner Mole. Winners will be randomly selected to receive a Miner Mole NFT, which will also vary in rarity.

About VVS Finance

VVS Finance is the leading decentralized automated market-maker (AMM) on Cronos. It is design to be the simplest venue to swap and earn yields at the best available rate.

Built on the low-fee, high-speed Cronos blockchain, VVS Finance is a proven, audited protocol which stands out thanks to its comprehensive reward program. VVS Finance users can receive VVS, the governance token, and/or partner rewards by providing liquidity to the protocol or staking in Glitter mines.

Website | Twitter

About Cronos

Cronos is the first EVM-compatible Layer 1 blockchain network built on the Cosmos SDK, supported by Crypto.com, Crypto.org and more than 400 app developers and partners.

Cronos is building an open ecosystem where developers can create their own DeFi and GameFi applications. Targeting a base of 70+ million users globally. Earlier this year, Cronos Labs launched a $100M Accelerator program to help developers build new projects and the future of Web3 within the Cronos ecosystem.

Website | Twitter

SOURCE

https://www.prnewswire.com/news-releases/vvsgotchi-launches-on-cronos-expanding-dapp-ecosystem-with-utility-led-nft-game-301711021.html

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Leveraged yield farming on VVS Boost Farms goes live!

SingleFinance Leveraged Yield Farming of VVS Boost Farm. The boosting effects will be apply to the selected farms across Pseudo Market-Neutral Strategy, Leveraged Short/Long Strategy and Leveraged Yield Farming.

The selected farms are boosted with xVVS and VVS Miner Moles (NFT) staking automatically, the boosted yield farming rewards would go to the pockets of our users directly. There are no extra steps for our users to take to achieve such juicy rewards, just “Single-Click” with us as usual and everything is done.

Pseudo Market-Neutral Strategy

Leveraged Short/Long Strategy

Leveraged Yield Farming

veSINGLE Holders Exclusive Early-bird Period

The long-term support from the beloved community members always leads them to go further. Thus the VVS boosting features are exclusive to the users with significant veSINGLE holdings in the first 2 weeks.

If the number of claim veSINGLE does not pass the threshold. Users may claim sufficient veSINGLE within the period or wait until the early-bird end to enjoy the boost farming.

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